Not only in your opinion mate, articles out yesterday....
Goldman Sachs has doubled down on its bullish outlook for gold, saying prices will keep climbing from near record levels in a welcome boost to Australia’s mining companies, which will be among the key beneficiaries.
The broker has been consistently bullish about the outlook for the precious metal. Just two months ago it tipped the gold price would hit $US2700 an ounce by early 2025. The spot price of gold was higher as of Wednesday morning, trading around $US2672.34 an ounce.
Goldman isn’t the only broker bullish about gold. US rival Citi is also forecasting the dazzling rally in precious metal prices to resume over 2025, with gold tipped to jump a further 15 per cent to $US3000 an ounce and silver surging a similar amount to $US36 an ounce.
Similar to Goldman, Citi also believes central banks and governments will keep buying the yellow metal, even if tensions in the Middle East and Russia ease.
VTX Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
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